News Formal

Adidas in R1.9bn tax row with SARS | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 80%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

German sportswear giant Adidas is at loggerheads with the South African Revenue Service over R1.9 billion the tax authority claims it's owed. | News24_Business

German sportswear giant Adidas is at loggerheads with the South African Revenue Service over R1.9 billion the tax authority claims it's owed.on Monday, saying it had learned the SARS dispute over years of alleged underpayment on custom duties was with Switzerland-based Adidas International Trading and the company's SA unit.

According that SARS had issued a ruling in June 2018 claiming a"customs payment including interest and penalties for the years 2007 to 2013".A deep dive into the big business story of the week, as well as expert analysis of markets and trends.The company said it had applied for a suspension of the payment demand and had in 2019 instituted legal action against the decision before the high court.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BUSINESS REFLECTION: After the Bell: South African SOEs — one corporate ring to rule them allWill putting all South Africa’s state-owned enterprises into a single pot make it boil? Or will this be another complicated reshuffling of the deckchairs on these ships that won’t keep them from sinking?
Source: dailymaverick - 🏆 3. / 84 Read more »